- Write by:
-
Monday, April 11, 2022 - 13:37:56
-
607 Visit
-
Print
Mining News Pro - Nearly two years after Tesla outlined a plan to dig for lithium, its chief Elon Musk signaled that the electric car giant might start doing so, due to skyrocketing cost of the metal key to battery technology.
Lithium has joined the turmoil gripping commodities in the wake of Russia’s war on Ukraine. Even before the war, prices of raw materials rallied with demand surging and supplies choked up due to pandemic-triggered supply chain woes. An index of global lithium prices compiled by Benchmark Mineral Intelligence has surged almost 490% in the past year. China worries about prices of lithium so much that it hauled in a range of market players for two days of talks focused on halting a breakneck run-up in prices.
Lithium is a key component in electric vehicle batteries and so automakers are racing to secure supplies, expecting surge in demand amid a global push for the electrification of transportation. Tesla has signed supply deals with producers of battery metals in the past couple of years, including a secret one with mining giant Vale.
In the wake of the price rally in lithium, China is already telling its EV battery supply chain that it wants lithium prices to return to sustainable levels as soaring prices have increased cost inflation for manufacturers and threatened to eventually hurt consumer demand.
Short Link:
https://www.miningnews.ir/En/News/621036
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
London-based Savannah Resources will if necessary ask Portugal’s government to authorize compulsory land acquisitions ...
India is considering offering incentives to encourage private companies to set up lithium processing facilities, as New ...
London-based Savannah Resources will if necessary ask Portugal’s government to authorize compulsory land acquisitions ...
Australia will spend A$566 million ($373 million) over the coming decade to map out resource deposits with a focus on ...
Equinor on Wednesday said it has entered an agreement with Standard Lithium to acquire a 45% stake in lithium projects ...
China issued draft rules on Wednesday to regulate its lithium battery market, after rapid expansion in the sector hit ...
China’s Ganfeng Lithium Group Co. plans to pay about $408 million to buy out its partner in a lithium mine being ...
The chairman of Chile’s state-run copper giant Codelco said on Monday that he expects to reach a lithium deal with ...
No comments have been posted yet ...